The sports news outlet is teaming up with Caesars Entertainment Corp. to build a new ESPN-branded studio at The Linq Hotel, where the company will create sports betting-related content to share around the world. Financial terms were not disclosed.

According to analysts, this partnership — with other, similar sports betting deals that have formed in recent months — is a sign the media industry is playing an increasing role in the sports betting industry.

“(ESPN) is a very well-known sports brand. That’s the best way to reach a sports customer,” Union Gaming analyst John DeCree said. The gaming and media industries know sports betting “is likely going to be a large industry.”

‘Epicenter of sports culture’

The new studio will launch next year and will “play a vital role during major sporting events,” according to a joint statement from ESPN and Caesars. The space will serve as a hub for a variety of content, including digital and social shows, ESPN.com and the ESPN app and will work on shows like the Daily Wager.

ESPN will incorporate Caesars data and branding into its programming within the coming weeks, including odds information generated by Caesars.

“Working with a category leader like Caesars Entertainment will help us serve these highly engaged, diverse sports fans with the best and most relevant content possible,” ESPN Vice President of Business Development Mike Morrison said in the statement. “The sports betting landscape has changed, and fans are coming to us for this kind of information more than ever before.”

Connor Schell, executive vice president of content for ESPN, said a studio presence in Las Vegas will allow the company to create content that taps into the growing sports culture in the valley.

“Las Vegas has become an epicenter of sports culture,” Schell said in the statement, pointing to the arrival of the Vegas Golden Knights and Raiders, events such as the NFL Draft and NBA Summer League and an increased interest in betting among sports fans.

Brendan Bussmann, a partner at casino research firm Global Market Advisors, said the deal shows how Las Vegas is earning the title of “sports and entertainment capital of the world,” and he believes the key to operators’ success is in learning how to transition casual fans into those familiar with the sports betting world.

“Clearly, Caesars and ESPN see the opportunity to engage together to reach fans across all of sports,” he said. “The future is on fan engagement and sponsorship opportunities.”

New partnerships

Caesars isn’t alone in jumping on sports betting partnerships.

Earlier this month, Fox Sports announced it’s buying just under 5 percent of The Stars Group, the parent company of PokerStars. The companies will offer sports betting under the name Fox Bet in legal states.

Bussmann said Caesars is taking a different approach than MGM by focusing on media companies.

Three months ago, Caesars announced a partnership with the Bleacher Report, a sports website owned by Turner Sports, to build a branded studio inside its Caesars Palace sportsbook. At that time, analysts had speculated that other national networks like ESPN could follow suit.

“Today’s announcement shows how media will continue to elevate their role into the emerging U.S. sports betting market,” Bussmann said via email. “Caesars continues to show that it values partnerships with various media outlets to try and reach today and tomorrow’s sports bettor.”

DeCree said the strictly-media aspect of the deal was essential because ESPN’s parent company, Walt Disney Co., has made it clear it does not want to cross over into the gaming industry.

“Media companies are going to be a huge involvement in sports betting,” DeCree said. The deal shows a “commitment (from Caesars) on building a sports brand. … I wouldn’t be surprised if we see another media deal like this.”

The three-year-old Vegas Stats & Information Network operates a studio in the sportsbook of the South Point. Downtown Las Vegas casino operator Derek Stevens plans to establish a studio for VSiN at his new Circa resort, expected to open in 2020.

One of VSiN’s broadcasters, Brent Musburger, when at CBS and ABC earlier in his career, and ESPN personality Scott van Pelt were among the first to bring discussions about gambling odds to mainstream media.

Van Pelt, famed for his “bad beat” segments on his shows, was a featured speaker at last year’s Global Gaming Expo in Las Vegas.

Operators of the Pinball Hall of Fame have been approved to build a new, larger arcade near the south edge of the Strip on Las Vegas Boulevard near Russel Road. (K.M. Cannon/Las Vegas Review-Journal) @KMCannonPhoto

National Hardware Show underway Las Vegas

The National Hardware Show kicked off Tuesday at the Las Vegas Convention Center (Mat Luschek / Review-Journal)

Caesars for sale?

Caesars Entertainment Corp. has been swept up in takeover speculation since the company’s share price tumbled last year amid disappointing earnings and concerns over a recession. Amid the decline, hedge funds scooped up shares. Billionaire activist investor Carl Icahn began buying shares of Caesars as early as January. Icahn acquired nearly 18 percent by mid-March. In February Icahn called on the Caesars board to study a sale as a way to boost shareholder value.

Las Vegas home prices

Las Vegas home prices grew fastest among major markets in February for the ninth straight month. But amid affordability concerns, the growth rate has slowed down. Southern Nevada prices in February were up 9.7% from a year earlier, according to the latest S&P CoreLogic Case-Shiller index. The last time Las Vegas' price growth fell below 10% was in September 2017, S&P Dow Jones Indices reported.

Free Parking Coming To Wynn

Free parking will come to the Wynn and Encore resorts on May 1, 2019. (Mat Luschek / Review-Journal)

Founding Venetian employees talk about 20 years at the Strip resort

The Venetian, which opened May 3, 1999, is celebrating 20 years on the Las Vegas Strip. Seven original employees talk about opening the luxury resort and working there for two decades. (K.M. Cannon/Las Vegas Review-Journal) @KMCannonPhoto

Circa aiming for December 2020 opening

The 1.25-million-square-foot property will have 44-stories and 777-rooms. It will also have a separate nine-story, 1,201-space parking garage.

Boxabl official explains the building concept

Boxabl business development manager Galiano Tiramani shows off a room built by his company. (Blake Apgar/Las Vegas Review-Journal)

TI/Mirage Tram reopens

The tram that shuttles guests between TI and Mirage reopened this week after being closed for much of 2018.

Las Vegas Convention Center expansion taking shape

Renderings and actual footage show how the Las Vegas Convention Center is evolving.

Japan’s NHK Science & Technology Research Laboratories booth featured a 1mm thick 8K TV system used in conjunction with a 22.2 channel digital sound system at the National Association of Broadcasters Show at the Las Vegas Convention Center. (K.M. Cannon/Las Vegas Review-Journal) @KMCannonPhoto

Business reporter Rick Velotta gives an update on the adjudicatory hearing on the suitability of Wynn Resorts to retain its gaming license in Massachusetts.

Henderson app developer part of Startup in Residence

Henderson based developers of the app On Point Barricade are taking part in Startup in Residence, a North America program dedicated to pairing tech companies with governments. (K.M. Cannon/Las Vegas Review-Journal) @KMCannonPhoto

Sam's Town employees and customers talk of their love for the iconic casino

Longtime Sam's Town employees and customers love each other and love their casino. (K.M. Cannon/Las Vegas Review-Journal) @KMCannonPhoto

Las Vegas apartments rents

Las Vegas’ apartment market has accelerated in recent years. Developers are packing the suburbs with projects, landlords are on a buying spree, and tenants have filled buildings.

William Boyd talks about the birth of Sam's Town

On the eve of the 40th anniversary of Sam's Town, William Boyd, executive chairman of Boyd Gaming and son of hotel namesake Sam Boyd, talks about how the casino became one of the first local properties in Las Vegas. (K.M. Cannon/Las Vegas Review-Journal) @KMCannonPhoto

There are no data showing a relationship between Strip resort and parking fees and the number of out-of-state visitors to Las Vegas. But there are data showing a relationship between Strip parking fees and the number of local visitors to the the Strip. ‘’As a local, I find myself picking hotels I visit for dinner or entertainment, based on whether they charge for parking or not,”’ said David Perisset, the owner of Exotics Racing. ‘’It is not a matter of money, more of principle.’’
A 2018 survey by the Las Vegas Global Economic Alliance found 36.9 percent of Clark County residents reported avoiding parking at Strip casinos that charge for parking. 29.1 percent reported avoiding using any services from a Strip casino that charges for parking.

MGM's sports betting deals

MGM Resorts International signed a sports betting sponsorship agreement with the NBA in July It was the first professional sports league to have official ties with a legal sports betting house. The deal came just two months after the U.S. Supreme Court overturned a law prohibiting sports betting in most states. In October, MGM became the first gaming company to sign a sports betting partnership with the NHL. In November, MGM became the first gaming company to sign a sports betting partnership with the MLB. Financial terms of Tuesday’s deal and earlier partnerships have not been announced.

Faraday puts Las Vegas land on the market

Nearly two years after Faraday Future bailed on its North Las Vegas auto factory, the company has put its land up for sale. (Michael Quine/Las Vegas Review-Journal)

The Las Vegas Convention and Visitors Authority announced the recommendation for an underground people mover for the convention center. The system would have the potential to expand and connect Downtown and the resort corridor all the way to McCarran. (Michael Quine/ Las Vegas Review-Journal)

Advancing technology in slot machines is paving the way for a better, more immersive experience for players — one that draws a wider variety of demographics, and keeps them in their seat at the slots longer, industry insiders say.